Not all conversions are created equal.  Some may be worth more to you based on certain factors, like which device a user is browsing on (if you are a B2B) or where they are browsing from (if you find certain regions offer you a higher AOV).  Google’s Conversion Value rules allow you to set a higher conversion value if these qualifications are met so you can ultimately bid more aggressively for conversions in certain scenarios.

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If you haven’t yet gotten a chance to explore this feature, you will find it under goals > value rules.

How to Set up Conversion Value Rules

Once you select “create a conversion value rule,” you will be given the option to create one based on audience, device or location.

For each of the rules you can choose a specific device, location or audience segment, with the option to add a secondary condition as well.  If you add a secondary condition, then the value rule will only apply if both conditions are met. See the example below:

Once the conditions have been specified, you can then choose the value you’d like to add or multiply when those conditions have been met. 

You can multiply by less than one if you wish to decrease the value of the conversion (eg: you wanted to reduce the value of those users who are already in your remarketing list). 

Strategic Considerations for Smart Bidding

Conversion value rules are one of those interesting features that has limited benefit.  You want to make sure you are giving Google information that you, as the advertiser, has that Google’s Smart Bidding algorithm has not yet already figured out. The important thing to remember is that Google is adding additional conversion value - similarly to how new customer acquisition campaigns work when you assign a higher value to new customers in the customer lifecycle optimization. 

How to Report on Conversion Value Rules

Reporting for Conversion Value rules is done through either segmenting by “value rule adjustment” (under conversions) or adding the reporting columns “Original conv value (rule applied)” and “original conv value (no rule applied).”  This will allow you to view data both with and without the extra conversion value. You can also segment by audience, device or location to see your rules in action.

Conclusion

Google’s Conversion Value rules offer a strategic way to adjust your bidding focus by assigning greater or lesser value to specific audiences, locations, or devices. It aims to feed Google data it doesn't already account for and can be monitored through Google’s built in reporting segments. When used appropriately, value rules can significantly refine and improve your Smart Bidding algorithm by telling Google which conversions matter most to you.

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